It was the hardest year in Gander International Airport Authority’s history.

The Authority held its AGM this morning.

Total revenue for 2022 was $6.5 million—up 7 per cent from the previous year after adjusting for one-time COVID funding grants. That’s down from $10.5 million pre-pandemic.

It’s the only time they posted a cash loss in the 20 years they’ve been managing the facility.

CEO Reg Wright says 2022 was the year they were bracing for.

He says airports need two things to survive, one is passengers, the other is airplanes, both of which were in short supply in 2022. He says most all markets that they serve are only two thirds recovered.

Wright says there are a number of factors as to why the airport struggled. He points to lost routes last year, such as Sunwing’s removal of their flight to the Caribbean among other things.

He says just like residents dealing with the cost of living, the airport faced rising costs in utilities, labour, raw supplies and the cost of borrowing and financing.

The Authority is looking to move away from survival, and begin its revival. Wright says he is optimistic for increased traffic in 2023.